[ANN] [TRST] WeTrust - For the People, By the People! - page 187.

WeTrustMivsam

member

Activity: 112

Merit: 10

Global Partnerships & Research @ WeTrust.io

Quote from: Pipesnake on March 14, 2017, 09:48:45 AM

Quote from: nickhiggins123 on March 14, 2017, 09:26:52 AM

Apparently I have gone from Hero Member to Sr. Member within the last week, do I continue out the campaign as a hero member or am I able to upgrade my signature to increase stake/wk?

Hey how can reverse system happen here?

from Hero to Sr Member ...LOL Grin

@Pipesnake: Truthfully, Hero and Sr. get the same stakes, so it doesn't really matter, we can just leave it as is

modernbuddha

full member

Activity: 434

Merit: 100

Strategy & Operations at WeTrust

Leveraging the Blockchain for Good: the Blockchain Community comes together for a WeTrust Charity Circle!

Here at WeTrust, we believe that the blockchain can be used for social good. As a demonstration of our commitment to that mission, we recently organized a Trusted Charity Circle (inspired by Trusted Lending Circles) on the WeTrust platform. Here’s how it works:

1. During each week of the Charity Circle, each member will contribute 5 Ether into the pool
2. One member of the group will be selected at random as the winner of the Ether pool each week, with no member winning the pot more than once
3. The recipient of the funds for that week then donates the proceeds to a charity of their choice
4. Over the course of the 5 week period, every week each person ends up contributing 25 Ether to the charity of their choice

The purpose of taking these actions above, is to demonstrate for the first time that the WeTrust Platform is capable of supporting similar use cases where participants collaborate transparently as a group in a financial endeavor, contributes tokens, and receives tokens distributed back to them over time, without the need for a trusted third party. One can imagine all the new ways application developers will use these improved capabilities to build decentralized applications.

We’re very lucky to have some major movers and shakers in the blockchain world generously agreeing to participate in our Trusted Charity Circle. Thank you: Matthew Roszak of Bloq/ Tally Capital, Jeremy Gardner of Blockchain Capital/ Auger, David Johnston of Factom, Emin Gun Sirer of Cornell, and George our co-founder!

jayohby

full member

Activity: 192

Merit: 100

Quote from: soloasi on March 14, 2017, 10:18:53 AM

Quote from: jayohby on March 14, 2017, 08:42:47 AM

This is something that an executive decision is needed.

I've seen the contribution wallet, and some people invested with 4,5k ethers. they're out 30 BTC worth from the exchange rate that the team would acquire the funds vs. the converstion btc rate that they would be getting.

There could be other solutions, rather than setting the exchange to the conversion rate at time of acquiring. However, currently, it's not fair to ETH investors who thought that the ETH would be converted to BTC directly into the team's wallet.

And if ETH goes to $1, it's not like the project will continue - they won't be able to hire enough developers for that money.

i agree. But whats the min value ETH may drop to go into 'losses'?

it's hyptothetical so you can do the math , 50% from march 1 and ico value not met.

but I was led to believe that ETH would be converted immediately when I donated my money, if that is the case, then I would have no complaints because that's fair game.

Team will get the money only when they acquire it, which would be at least 30+ days from now. If the ETH value became much less than today, would the team continue with potentially 600 BTC ICO? that would probably fund the team for 1 year!

Who is guaranteeing the missing BTCs if the ETH crashes (anything can happen in crypto world)? Most likely, we would get a refund of ICO and ETH holders just get ETH back.

1368.0 / 6000 BTC in the crowdsale page

BUT, real value of ETH Right now is 1907 BTC / 6000 BTC on market prices.

Again, there are many solutions to tackle this. I want a solution that would be fair to everyone, but I have to assume that majority of ETH investors who contributed on first day are not happy at all.

soloasi

sr. member

Activity: 477

Merit: 250

Quote from: jayohby on March 14, 2017, 08:42:47 AM

This is something that an executive decision is needed.

I've seen the contribution wallet, and some people invested with 4,5k ethers. they're out 30 BTC worth from the exchange rate that the team would acquire the funds vs. the converstion btc rate that they would be getting.

There could be other solutions, rather than setting the exchange to the conversion rate at time of acquiring. However, currently, it's not fair to ETH investors who thought that the ETH would be converted to BTC directly into the team's wallet.

And if ETH goes to $1, it's not like the project will continue - they won't be able to hire enough developers for that money.

i agree. But whats the min value ETH may drop to go into 'losses'?

jayohby

full member

Activity: 192

Merit: 100

Quote from: amintek15 on March 14, 2017, 09:33:49 AM

Quote from: jayohby on March 14, 2017, 08:31:57 AM

Quote from: redhero on March 14, 2017, 05:45:57 AM

Quote from: jayohby on March 13, 2017, 09:19:05 PM

Hi guys, please consider changing the rate at which ETH holders get their TRUST coins, to time/date of when you guys acquire the ETH funds and actually convert it.

All the investors on first and first week (90% of contributors to your crowdsale) will get significantly lower conversion rate to BTC due to current ETH Price. i.e. about 0.015 btc/eth, even though you guys have ETH still, not BTC converted at that rate on that day. Hence, lower trust coins relative to the current ETH price.

It was also my understanding that ETH would be converted to BTC on that day but ETH was not converted to BTC because no access to the funds yet.

Here's a hypothetical scenario (presenting extreme case): if ETH value dropped to 0.0001 btc/eth, would the project have been continued even though the paper BTC was over 1000 btc, but real value was much below 1000 btc? I'm not sure, but that's the flip side of the coin.

There could be other things that you guys can think of to treat ETH funds fairly to the investors, but I think this decision is only for George since he is the CEO.

thanks.

though i invested both with eth and btc, I still think everybody should obey the original rules. IF eth price drop again, whether the complaining person will agree to reduce their trust coin too?

And if ETH drops to 0.000001 btc/eth? then funding campaign technically did not meet, and the team is not going to work for free on ramen noodles.
They're not going to pay out of pocket for the missing BTCs. team is not taking the risk because they can always refund back the ICO.

My only beef is that they have ETH that was not converted to BTC directly , like shapeshift would do; at least that's what i thought was going to happen.

nah man stop crying, we should continue with original rules. By investing your ETH it was like you have sold them, and you just sold them before ETH pump thats all..shit happens

except team still has ETH.

in the event of a crash, ICO would be refunded anyways so investors were carrying all the risks. we aren't talking about 10-20% gain/loss which we would understand.

Pipesnake

legendary

Activity: 1012

Merit: 1000

Quote from: nickhiggins123 on March 14, 2017, 09:26:52 AM

Apparently I have gone from Hero Member to Sr. Member within the last week, do I continue out the campaign as a hero member or am I able to upgrade my signature to increase stake/wk?

Hey how can reverse system happen here?

from Hero to Sr Member ...LOL Grin

amintek15

sr. member

Activity: 770

Merit: 251

Quote from: jayohby on March 14, 2017, 08:31:57 AM

Quote from: redhero on March 14, 2017, 05:45:57 AM

Quote from: jayohby on March 13, 2017, 09:19:05 PM

Hi guys, please consider changing the rate at which ETH holders get their TRUST coins, to time/date of when you guys acquire the ETH funds and actually convert it.

All the investors on first and first week (90% of contributors to your crowdsale) will get significantly lower conversion rate to BTC due to current ETH Price. i.e. about 0.015 btc/eth, even though you guys have ETH still, not BTC converted at that rate on that day. Hence, lower trust coins relative to the current ETH price.

It was also my understanding that ETH would be converted to BTC on that day but ETH was not converted to BTC because no access to the funds yet.

Here's a hypothetical scenario (presenting extreme case): if ETH value dropped to 0.0001 btc/eth, would the project have been continued even though the paper BTC was over 1000 btc, but real value was much below 1000 btc? I'm not sure, but that's the flip side of the coin.

There could be other things that you guys can think of to treat ETH funds fairly to the investors, but I think this decision is only for George since he is the CEO.

thanks.

though i invested both with eth and btc, I still think everybody should obey the original rules. IF eth price drop again, whether the complaining person will agree to reduce their trust coin too?

And if ETH drops to 0.000001 btc/eth? then funding campaign technically did not meet, and the team is not going to work for free on ramen noodles.
They're not going to pay out of pocket for the missing BTCs. team is not taking the risk because they can always refund back the ICO.

My only beef is that they have ETH that was not converted to BTC directly , like shapeshift would do; at least that's what i thought was going to happen.

nah man stop crying, we should continue with original rules. By investing your ETH it was like you have sold them, and you just sold them before ETH pump thats all..shit happens

nickhiggins123

sr. member

Activity: 285

Merit: 250

Apparently I have gone from Hero Member to Sr. Member within the last week, do I continue out the campaign as a hero member or am I able to upgrade my signature to increase stake/wk?

jayohby

full member

Activity: 192

Merit: 100

This is something that an executive decision is needed.

I've seen the contribution wallet, and some people invested with 4,5k ethers. they're out 30 BTC worth from the exchange rate that the team would acquire the funds vs. the converstion btc rate that they would be getting.

There could be other solutions, rather than setting the exchange to the conversion rate at time of acquiring. However, currently, it's not fair to ETH investors who thought that the ETH would be converted to BTC directly into the team's wallet.

And if ETH goes to $1, it's not like the project will continue - they won't be able to hire enough developers for that money.

jayohby

full member

Activity: 192

Merit: 100

Quote from: redhero on March 14, 2017, 05:45:57 AM

Quote from: jayohby on March 13, 2017, 09:19:05 PM

Hi guys, please consider changing the rate at which ETH holders get their TRUST coins, to time/date of when you guys acquire the ETH funds and actually convert it.

All the investors on first and first week (90% of contributors to your crowdsale) will get significantly lower conversion rate to BTC due to current ETH Price. i.e. about 0.015 btc/eth, even though you guys have ETH still, not BTC converted at that rate on that day. Hence, lower trust coins relative to the current ETH price.

It was also my understanding that ETH would be converted to BTC on that day but ETH was not converted to BTC because no access to the funds yet.

Here's a hypothetical scenario (presenting extreme case): if ETH value dropped to 0.0001 btc/eth, would the project have been continued even though the paper BTC was over 1000 btc, but real value was much below 1000 btc? I'm not sure, but that's the flip side of the coin.

There could be other things that you guys can think of to treat ETH funds fairly to the investors, but I think this decision is only for George since he is the CEO.

thanks.

though i invested both with eth and btc, I still think everybody should obey the original rules. IF eth price drop again, whether the complaining person will agree to reduce their trust coin too?

And if ETH drops to 0.000001 btc/eth? then funding campaign technically did not meet, and the team is not going to work for free on ramen noodles.
They're not going to pay out of pocket for the missing BTCs. team is not taking the risk because they can always refund back the ICO.

My only beef is that they have ETH that was not converted to BTC directly , like shapeshift would do; at least that's what i thought was going to happen.

redhero

sr. member

Activity: 361

Merit: 250

Quote from: jayohby on March 13, 2017, 09:19:05 PM

Hi guys, please consider changing the rate at which ETH holders get their TRUST coins, to time/date of when you guys acquire the ETH funds and actually convert it.

All the investors on first and first week (90% of contributors to your crowdsale) will get significantly lower conversion rate to BTC due to current ETH Price. i.e. about 0.015 btc/eth, even though you guys have ETH still, not BTC converted at that rate on that day. Hence, lower trust coins relative to the current ETH price.

It was also my understanding that ETH would be converted to BTC on that day but ETH was not converted to BTC because no access to the funds yet.

Here's a hypothetical scenario (presenting extreme case): if ETH value dropped to 0.0001 btc/eth, would the project have been continued even though the paper BTC was over 1000 btc, but real value was much below 1000 btc? I'm not sure, but that's the flip side of the coin.

There could be other things that you guys can think of to treat ETH funds fairly to the investors, but I think this decision is only for George since he is the CEO.

thanks.

though i invested both with eth and btc, I still think everybody should obey the original rules. IF eth price drop again, whether the complaining person will agree to reduce their trust coin too?

clixcoin

legendary

Activity: 1750

Merit: 1004

Quote from: Anarchy101 on March 14, 2017, 12:20:51 AM

Quote from: derekis126 on March 13, 2017, 08:20:43 PM

ETH has doubled so TRST's fund in bitcoin is significantly increasing, we are mooning, and get more rewards from campaigns.

When I donated my ETH the value of them was merely .014 BTC and now good god it's 0.022 BTC

Yup Wetrust is running a very legend campaign and they are getting positive response from the giant of the crypto world. Surely everybody will be get satisfied when this token will hit the exchange. This will be best investment of the year.

Block_303

sr. member

Activity: 322

Merit: 250

@modernbuddha
I am not the official translator. But I have translated your two posts in the German thread. Looks better now

https://bitcointalksearch.org/topic/m.18179992

https://bitcointalksearch.org/topic/m.18180197

Anarchy101

legendary

Activity: 1316

Merit: 1004

Quote from: derekis126 on March 13, 2017, 08:20:43 PM

ETH has doubled so TRST's fund in bitcoin is significantly increasing, we are mooning, and get more rewards from campaigns.

When I donated my ETH the value of them was merely .014 BTC and now good god it's 0.022 BTC

jayohby

full member

Activity: 192

Merit: 100

Hi guys, please consider changing the rate at which ETH holders get their TRUST coins, to time/date of when you guys acquire the ETH funds and actually convert it.

All the investors on first and first week (90% of contributors to your crowdsale) will get significantly lower conversion rate to BTC due to current ETH Price. i.e. about 0.015 btc/eth, even though you guys have ETH still, not BTC converted at that rate on that day. Hence, lower trust coins relative to the current ETH price.

It was also my understanding that ETH would be converted to BTC on that day but ETH was not converted to BTC because no access to the funds yet.

Here's a hypothetical scenario (presenting extreme case): if ETH value dropped to 0.0001 btc/eth, would the project have been continued even though the paper BTC was over 1000 btc, but real value was much below 1000 btc? I'm not sure, but that's the flip side of the coin.

There could be other things that you guys can think of to treat ETH funds fairly to the investors, but I think this decision is only for George since he is the CEO.

thanks.

derekis126

sr. member

Activity: 306

Merit: 250

ETH has doubled so TRST's fund in bitcoin is significantly increasing, we are mooning, and get more rewards from campaigns.

francism

sr. member

Activity: 444

Merit: 250

Quote from: nickhiggins123 on March 13, 2017, 07:15:20 PM

ETH has almost doubled in FIAT value since start of ICO or what?

Yep, ETH almost doubled but not quite. But there's a chance, ETH price still going up.

nickhiggins123

sr. member

Activity: 285

Merit: 250

ETH has almost doubled in FIAT value since start of ICO or what?

Jcga

legendary

Activity: 2590

Merit: 1089

Hello, bonjour à la brillante équipe du projet WeTrust !

1360 BTC raised, over $ 1.700.000,
30 days to go with a 20% Bonus until the 03/16/2017 12:00:00 AM UTC!!!!

modernbuddha

full member

Activity: 434

Merit: 100

Strategy & Operations at WeTrust

Quote from: seven.71 on March 13, 2017, 05:35:06 PM

Quote from: modernbuddha on March 13, 2017, 05:00:27 PM

Quote from: scambust on March 13, 2017, 02:44:39 PM

Quote from: modernbuddha on March 13, 2017, 11:09:11 AM

We will denominate everything in BTC. We will be holding both ETH and BTC, but at the time of donation, the spot rate will be in terms of BTC.

Soon, you will denominate everything in ETH.

@scambust: By the looks of it, yeah!

hello dev
I want to ask you always update on the thread Local board
whether it should be translated as a local moderator Grin

@seven.71: Could you please translate it? It takes a while for me to reach out to all our translators, so I was hoping just to post it there as a reminder for the translators to work their magic.

Topic: [ANN] [TRST] WeTrust - For the People, By the People! - page 187. (Read 275520 times)